Comments on: Reason Codes: What They Mean for My Credit Score – Episode #109 http://www.videocreditscore.com/reason-codes-my-credit-score/ Tue, 24 Jan 2012 18:29:53 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: VideoCreditScore-Andy http://www.videocreditscore.com/reason-codes-my-credit-score/#comment-1624 VideoCreditScore-Andy Mon, 07 Nov 2011 06:34:00 +0000 http://www.videocreditscore.com/?p=1761#comment-1624 I wouldn't worry about it. Sleep well, knowing your 800+ scores are great. I wouldn’t worry about it. Sleep well, knowing your 800+ scores are great.

]]> By: Ginger http://www.videocreditscore.com/reason-codes-my-credit-score/#comment-1621 Ginger Thu, 03 Nov 2011 17:12:25 +0000 http://www.videocreditscore.com/?p=1761#comment-1621 All 3 scores are 800 or above but I have reasons like; Too many Consumer Finance Company Accounts and Too Many Accounts Opened Recently. We have one credit card, a Lowe's card and a car loan. i just applied for a home loan and got the credit scores. I know the scores are high but I'm worried what these resons mean? Should I have a full report to see open accounts? All 3 scores are 800 or above but I have reasons like; Too many Consumer Finance Company Accounts and Too Many Accounts Opened Recently. We have one credit card, a Lowe’s card and a car loan. i just applied for a home loan and got the credit scores. I know the scores are high but I’m worried what these resons mean? Should I have a full report to see open accounts?

]]> By: VideoCreditScore-Andy http://www.videocreditscore.com/reason-codes-my-credit-score/#comment-1613 VideoCreditScore-Andy Thu, 20 Oct 2011 06:22:50 +0000 http://www.videocreditscore.com/?p=1761#comment-1613 Sadly, this "too few accounts" is often an enigma. I would just watch to see if you gain 10 points back in the next few months. Sadly, this “too few accounts” is often an enigma. I would just watch to see if you gain 10 points back in the next few months.

]]> By: Tonya Fazio http://www.videocreditscore.com/reason-codes-my-credit-score/#comment-1605 Tonya Fazio Mon, 10 Oct 2011 04:43:17 +0000 http://www.videocreditscore.com/?p=1761#comment-1605 My Trans Union Credit score just dropped 13 points from Sept to Oct due to "Too few premium bank accounts" and "too few satisfactory accounts". The only change made since Sept was to increase the available balance on one FIA charge card by decreasing another FIA charge card which we barely use. Could this have triggered the "too few satisfactory accounts" reason? That was the only additional explanation on Trans Union. My Trans Union Credit score just dropped 13 points from Sept to Oct due to “Too few premium bank accounts” and “too few satisfactory accounts”. The only change made since Sept was to increase the available balance on one FIA charge card by decreasing another FIA charge card which we barely use. Could this have triggered the “too few satisfactory accounts” reason? That was the only additional explanation on Trans Union.

]]> By: VideoCreditScore-Andy http://www.videocreditscore.com/reason-codes-my-credit-score/#comment-1598 VideoCreditScore-Andy Wed, 21 Sep 2011 21:24:51 +0000 http://www.videocreditscore.com/?p=1761#comment-1598 How many accounts do you have? That may explain the "lack of recently reported accounts". How many accounts do you have? That may explain the “lack of recently reported accounts”.

]]> By: algie harris http://www.videocreditscore.com/reason-codes-my-credit-score/#comment-1595 algie harris Sat, 10 Sep 2011 21:46:01 +0000 http://www.videocreditscore.com/?p=1761#comment-1595 i got a letter from equifax statting lack of recently reported established accounts ipay all of my bills on time never been late on anythig i was turnd down for a home projects visa card my credit score 814. i got a letter from equifax statting lack of recently reported established accounts ipay all of my bills on time never been late on anythig i was turnd down for a home projects visa card my credit score 814.

]]> By: Alan http://www.videocreditscore.com/reason-codes-my-credit-score/#comment-1554 Alan Tue, 19 Apr 2011 03:23:05 +0000 http://www.videocreditscore.com/?p=1761#comment-1554 I received some conflicting reason codes. Based on the information I have read above...how can I have 1 reason code that says: "Amount of Unused Bankcard credit limits"....and then another reason code in the same letter that says: "# of REV ACCTS WITH BALANCE>= 50% OF HIGH CREDIT" ? Basically what they are saying is "We denied you credit because you aren't using your cards enough. We also denied your credit because you are using your cards too much." WTF? Yeah...so.......yeah. Alan I received some conflicting reason codes. Based on the information I have read above…how can I have 1 reason code that says: “Amount of Unused Bankcard credit limits”….and then another reason code in the same letter that says: “# of REV ACCTS WITH BALANCE>= 50% OF HIGH CREDIT” ?

Basically what they are saying is “We denied you credit because you aren’t using your cards enough. We also denied your credit because you are using your cards too much.” WTF?

Yeah…so…….yeah.

Alan

]]> By: Rebecca http://www.videocreditscore.com/reason-codes-my-credit-score/#comment-1544 Rebecca Wed, 09 Mar 2011 15:38:40 +0000 http://www.videocreditscore.com/?p=1761#comment-1544 lack of recently reported established accounts lack of recently reported established accounts

]]> By: VideoCreditScore-Andy http://www.videocreditscore.com/reason-codes-my-credit-score/#comment-1526 VideoCreditScore-Andy Thu, 03 Feb 2011 05:08:26 +0000 http://www.videocreditscore.com/?p=1761#comment-1526 You can try to dispute these. Sounds like you will have a good likelihood of success given 2 of your reports have the right information. Check my <a href="http://www.videocreditscore.com/credit-resources/" rel="nofollow">credit resources</a> section for info on how to do a <a href="http://www.videocreditscore.com/credit-resources/credit-report-dispute-letter-sample/" rel="nofollow">credit dispute letter</a> You can try to dispute these. Sounds like you will have a good likelihood of success given 2 of your reports have the right information. Check my credit resources section for info on how to do a credit dispute letter

]]> By: VideoCreditScore-Andy http://www.videocreditscore.com/reason-codes-my-credit-score/#comment-1524 VideoCreditScore-Andy Thu, 03 Feb 2011 04:32:13 +0000 http://www.videocreditscore.com/?p=1761#comment-1524 This means you don't have any credit cards, or not enough. MBNA is afraid to be your first, or one of your first. Often you can get an installment loan with a big bank, and then apply 6-12 months later for a credit card from that same bank. They are more likely to accept your app based on the same bank record of payment. This means you don’t have any credit cards, or not enough. MBNA is afraid to be your first, or one of your first. Often you can get an installment loan with a big bank, and then apply 6-12 months later for a credit card from that same bank. They are more likely to accept your app based on the same bank record of payment.

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